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Cherkizovo Plant Considers Closure

by 5m Editor
19 February 2009, at 5:22am

RUSSIA - Shareholders of the Belmyaso plant are to discuss its closure following growing operating losses.

Meat Russia reports that the board of directors of Belmyaso has convened an extraordinary meeting of shareholders on 24 March to discuss the voluntary liquidation of the company. Belmyaso is located in Belgorod and is part of the Cherkizovo group.

The shareholders listed in the register as of 10 February 2009, will be present at the meeting, according to the company.

In the first half of 2008, the net loss at Belmyaso increased to 44.5 million rubles (RUB) – up from RUB 20.3 million in the corresponding period of the previous year. The enterprise's revenue was down from RUB 388.6 million for January to June 2007 to RUB 196.7 million for the same period of 2008.

Cherkizovo officials have not yet commented on the information, says Meat Russia.